Full text of G.19 Consumer Credit : May 14, 1985

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FEDERAL RESERVE statistical release
For immediate release
May 14, 1985

G.19

CONSUMER INSTALLMENT CREDIT
Consumer installment credit outstanding increased by $8.3 billion in March,
seasonally adjusted, following advances of $9.0 billion in February (revised downward
from $10.4 billion) and $7.2 billion in January. The annual rate of growth in March was
21.4 percent, compared with 23.6 percent in February*
Over the first quarter of 1985,
outstanding installment credit rose at a 21.8 percent annual rate, as compared with the
the 17.1 percent pace of the fourth quarter of last year and 20.0 percent for 1984 as a
whole.
Automobile installment credit advanced $3.4 billion in March, on a seasonally
adjusted basis, up from $3.2 billion in February.
Revolving credit outstanding grew by
$2.6 billion in March and by $2.5 billion a month earlier.
The remaining two credit
categories showed slower growth in March — $2.3 billion as contrasted with $3.3 billion
in February.

FLOWS OF CREDIT
M i l l i o n s of d o l l a r s
( s e a s o n a l l y adju s t e d )

Annual Rate of Growth
(percent)

Net Change i n
Amount; Outstanding

1985

1985
Feb.

8,342
3,391
2,631
-11
2,331

Total
Automobile
Revolving
Mobile home
Other 1/

Jan.

Mar.

Feb.

Jan.

9,041r
3,198r
2,527
282 r
3,034r

Mar.

7,223
2,887
1,957
-159
2,538

21.4
22.8
31.8
-0.5
16.9

23.6r
21.9r
31.3
13.9r
2 2 . 3r

19.2
20.1
24.7
-7.8
19.0

1984

1985
TERMS OF CREDIT
(not s e a s o n a l l y ad j u s t e d )
Interest rates 2/
Commercial banks 3/
48-mo. new-car loan
24-mo. personal loan
120-mo. mobile home loan
Credit card plan
Auto finance companies 4/
New-car loan
Used-car loan
Other terms at
auto finance companies 4/
Maturity (months)
New-car loan

Used-car loan
Loan-to-value r a t i o (%)
New-car loan
Used-car loan
Amount financed
New-car loan
Used-car loan




Mar.

Feb.

Jan.

1
Dec.

Mar.

n.a.
n.a.
n.a.
n.a.

13.37
16.21
15.42
18.85

n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.

n.a.
n.a.
n.a.
n.a.

12.65
17.78

13.78
17.91

14.18
17.54

15.24
18.34

14.05
17.52

52.2
41.3

51.4
41.1

46.3
39.5

50.2
39.8

46.7
39.4

91
93

90
93

88
92

89
93

87
92

9,232
5,976

9,196
5,968

9,099
5,392

9,707
5,975

9,139
5,474

($)

CONSUMER INSTALLMENT CREDIT BY HOLDER AND TYPE
( M i l l i o n s of d o l l a r s e x c e p t a s n o t e d )

Installment credit
h o l d e r and type

Net change d u r i n g
Mar .
Feb •
Mar .
1985
1985
1985
o.A.

o.A*

N.o.A.

Outstanding at end of
Mar.
Mar.
Mar.
1985
1985
1984
S.A.
N.S.A.
N.S.A.

Change from end of
Mar. 1984
amount
percent

8,342

9,041r

7,939

476,978

471,567

389,857

81,710

21.0

4,847
2,048
797
91
715
-142
-14

5,071
1,203
l,423r
269
997
-102
180

4,192
1,773
1,493
-401
944
-192
130

222,422
100,707
70,930
37,758
32,397
4,072
8,692

219,970
99,133
70,432
37,082
32,349
3,820
8,781

177,625
87,356
55,892
34,367
23,566
3,944
7,107

42,345
11,777
14,540
2,715
8,783
-124
1,674

23.8
13.5
26.0
7.9
37.3
-3.1
23.6

Automobile
Commercial banks
Finance companies
C r e d i t unions

3,391
1,767
1,243
381

3,198r
1,790
712
696r

4,170
1,924
1,532
714

181,937
90,254
57,759
33,924

179,661
89,257
56,717
33,687

147,478
71,237
49,509
26,732

32,183
18,020
7,208
6,955

21.8
25.3
14.6
26.0

Revolving
Commercial banks
Retailers 5/
G a s o l i n e companies

2,631
2,698
75
-142

2,527
2,429
200
-102

1,118
1,706
-396
-192

102,055
64,415
33,568
4,072

100,434
63,684
32,930
3,820

79,770
45,235
30,591
3,944

20,664
18,449
2,339
-124

25.9
40.8
7.6
-3.1

Total
By major holder
Commercial banks
Finance companies 1/
C r e d i t unions
Retailers 5/
S a v i n g s and l o a n s
G a s o l i n e companies
Mutual s a v i n g s banks
By major c r e d i t

type

Mobile home
Commercial banks
F i n a n c e companies
S a v i n g s and l o a n s
Credit unions
Other
Commercial banks
F i n a n c e companies 1/
C r e d i t unions
Retailers
S a v i n g s and l o a n s
Mutual s a v i n g s banks

-11
-50
-63
92
10

282 r
41
33
192
16r

77
-31
-63
155
16

24,664
9,512
9,106
5,294
752

24,456
9,425
8,981
5,305
745

23,691
9,589
9,527
3,983
592

765
-164
-546
1,322
153

3.2
-1.7
-5.7
33.2
25.8

2,331
432
868
406
16
623
-14

3,034r
811
458
711r
69
805
180

2,574
593
304
763
-5
789
130

168,322
58,241
33,842
36,254
4,190
27,103
8,692

167,016
57,604
33,435
36,000
4,152
27,044
8,781

138,918
51,564
28,320
28,568
3,776
19,583
7,107

28,098
6,040
5,115
7,432
376
7,461
1,674

20.2
11.7
18. 1
26.0
9.0
38.1
23.6

1. Loans secured by real estate at finance companies —excluded from the series—are estimated
for March 1985 as $26.7 billion, seasonally adjusted, and $27.2 billion, not seasonally adjusted.
2. Interest rates are annual percentage rates as specified by Regulation Z.
3. Commercial bank data are simple unweighted averages of each bank s "most common" rate charged
during the first calendar week of the month.
4. Finance company data from the subsidiaries of the three major U.S. automobile manufacturers
are volume-weighted averages covering all loans of each type purchased during the month.
5. Includes auto dealers and excludes 30-day charge credit held by travel and entertainment
companies.
n.a.= Data not available.
S.A.= Seasonally adjusted.
N.S.A.= Not seasonally adjusted.
r = revised.
NOTE: The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals through regular business channels , usually to finance the purchase
of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to
be repaid (or with the option of repayment) in two or more installments.
The G. 19 Statistical Release is issued about the middle of each month. The exact date and time
of each monthlly release will be announced, when the information is available, on (202) 452-3206.